Barney Chortles, While America Burns

Negotiations on the bailout deal have broken down. Democrats are blaming a split between conservative and more moderate Republicans.

There are principled reasons to be against any bailout. And no doubt Democrats want to lard any bill with "help to poor homeowners," like giving judges the power to reduce their mortgage payments if they find they can't pay them. (Passing such laws will make it even harder for middle class people will be able to get mortgages.)

The breakdown is said to be hurting John McCain's presidential chances. Tough.

Some Republicans appear to be more interested in getting the bailout right than who is the next president. Well, they should be.

Like McCain said, I'd rather lose an election than lose a war. Some Republicans should rather lose the White House than blow $700 billion.

Democrats, like Barney Frank, however, are less admirable. Frank is chortling over Republican dissention. This is unseemly for a man who was one of the great protectors of the crooked operators at Fannie Mae and Freddie Mac.

In 2003, he claimed there was no reason to "reform" the two lending giants or place more regulatory oversight over them, which is what the Bush Administration wanted to do. The same again in 2006, when McCain and other Republicans pushed for new regulations over the two.

Frank, as a powerful member of the House Financial Services Committee, bears as much responsibility as any politician in Washington for this mess.

But he's showing even less shame about it than when his boyfriend, Steve Gobie, got caught running a gay prostitution ring out of his Washington D.C. apartment 20 years ago.

Back then Frank excused his behavior as naive. He said he was just trying to help Gobie.

"I thought I was going to be a liberal who got involved directly with an individual who needed help, that I had an individual who was going to get help and he took me."

No doubt when you answer an ad from a gay newspaper that says: "Exceptionally good-looking, personable, muscular athlete is available. Hot bottom plus large endowment equals a good time," you're looking to "HELP" someone.

Right. That story is 20 years old. And Barney Frank has changed. He's gotten even MORE shameless.